Top 5 Dividend Increases of 2021

3. SLM Corporation (NASDAQ:SLM)

Dividend Yield as of January 20: 2.42%

Dividend Increase in 2021: 267%

Number of Hedge Fund Holders: 27

SLM Corporation (NASDAQ:SLM) is a consumer banking company, commonly referred to as Sallie Mae, that deals in private student loans, credit cards, college planning tools, and retail banking.

SLM Corporation (NASDAQ:SLM) on October 20 declared a $0.11 per share quarterly dividend, which is a 266.7% increase from the prior dividend of $0.03. The dividend was paid on December 15, to shareholders of record on December 3. As of January 20, the stock delivers a yield of 2.42%.

On January 10, Barclays analyst Mark DeVries raised the price target on SLM Corporation (NASDAQ:SLM) to $27 from $25 and kept an Overweight rating on the shares. The analyst expects a “strong” economy and housing market to drive solid fundamentals for consumer finance not levered to refinance activity.

ValueAct Capital is the biggest SLM Corporation (NASDAQ:SLM) stakeholder, with 16.9 million shares worth $297.6 million. Overall, 27 hedge funds in the Q3 2021 database of Insider Monkey reported owning stakes in SLM Corporation (NASDAQ:SLM), with stakes totaling $891.5 million.